Ever wondered what it costs to get your favorite influencer to feature a product on their Instagram feed? You're not alone!

Instagram has transformed from a simple photo-sharing app into a robust marketing platform. But with so much talk around influencer partnerships and sponsored posts, it leaves one question lingering:

What do influencers charge on Instagram in 2024? How does it compare to 2023? A couple of facts before we dive into the analysis:

• Rates for Instagram influencers range from as low as $10 for nano-influencers to $10,000 or more for mega and celebrity influencers.
• Factors affecting the cost include the influencer's follower count, engagement rate, and content quality.
• The depth of the campaign collaboration influences the price.
• Understanding these pricing factors is essential for planning an effective influencer marketing campaign.

Instagram remains one of the most prominent platforms for influencer marketing in 2024. With significant shifts in Rate per Post, CPM, and Engagement Metrics, understanding tier-specific performance is key to unlocking the platform’s potential. This report dives into the trends, data, and actionable strategies for maximizing your Instagram campaigns this year.

‍

‍

Comparison with 2023: Growth in Rates and Engagement (continued)

Have you ever wondered how much your favorite influencer earns with each Instagram post? As the platform continues to grow, so does the business of being an influencer. It’s no longer just about sharing pretty pictures—it's a full-time career for many. Understanding the rates influencers charge can shed light on the dynamic ecosystem of Instagram marketing.

Charging rates can vary widely depending on a number of factors including follower count, engagement rate, niche, and the type of content being created. Here are some key elements that influence an influencer’s pricing:

• Follower Count: Generally, the more followers an influencer has, the higher their rate. However, engagement is just as critical.
• Engagement Rate: Influencers with highly engaged audiences tend to command higher fees, sometimes even more than those with larger, but less engaged, followings.
• Niche: Specialties like fashion, beauty, or fitness can vary in demand and competition. Some niches allow influencers to charge premium rates.
• Content Type: Rates can change based on whether an influencer is creating a typical post, a video, or an Instagram story. Videos often require more effort and thus a higher fee.

"Influencer marketing is a bit like the Wild West," says Steven Lammertink, CEO of The Cirqle. "It's ever-changing and the rates can sometimes feel like the discovery of gold, both for brands and for influencers."

By understanding these elements, you'll be better equipped to gauge what influencers might charge and why they command such fees. Whether you're a brand looking to partner with an influencer or simply curious about this booming industry, knowing these factors is crucial.

‍

‍

Trends in Instagram Influencer Marketing Rates

When you dive into the world of social media marketing, you'll find that partnering with Instagram influencers can be a powerful strategy. But how much should you expect to pay? The costs vary widely, influenced by factors such as follower count, engagement rate, and niche.

“Understanding what influencers charge on Instagram can help you allocate your marketing budget effectively and ensure maximum return on investment. But more importantly, seeing historic creator performance and marrying that with their rate, is probably the most powerful piece of information that we can provide to advertisers.” says Steven Lammertink, CEO of The Cirqle

‍Nano influencers have seen an extraordinary rise, with their Rate per Post increasing by +227.27%, jumping from $154 in 2023 to $504 in 2024. Their engagement surged to 14.2%, solidifying their position as champions of sales-driven campaigns. Despite higher rates, their CPM fell by -53.33%, making them cost-effective for brands targeting niche audiences. This growth highlights the increasing demand for Nano creators who excel at producing authentic, on-brand content.

‍Micro influencers follow closely, offering the perfect balance of affordability and impact. With rates up by +107.5% and engagement at 11.7% (+95%), they are highly effective for scalable campaigns. Their impressions increased by +28.57%, further demonstrating their growing value in driving both visibility and meaningful interactions.

Engagement Rates Soared Across All Tiers

Every tier recorded substantial increases in engagement, showcasing the heightened ability of creators to connect with audiences meaningfully:

• Nano influencers led smaller tiers with engagement rates climbing by +184%, reaching 14.2%.
• Mid-tier influencers achieved a notable engagement rate of 9.4% (+135%), blending scalability with audience impact.
• Macro influencers saw a surge of +192%, offering brands strong performance at scale.
• Celebrity influencers experienced an unprecedented +2,700% increase in engagement, transitioning from mere awareness generators to impactful audience connectors.

Cost Efficiency Improved for Larger Tiers

‍Macro influencers experienced a significant reduction in CPM (-33.57%), dropping from $140 in 2023 to $93 in 2024. This makes them a valuable option for brands targeting broad audiences with cost-conscious campaigns. Similarly, Celebrity influencers saw their CPMs fall dramatically by -62%, from $300 to $114, while their Rate per Post declined by -26%, making them more accessible for awareness-driven initiatives.

Steady Growth in Reach and Impressions

Across all tiers, reach and impressions grew consistently:

• Nano influencers recorded a slight drop in impressions (-11.43%), but their engagement improvements compensated with higher ROI potential.
• Micro influencers saw their impressions grow by +28.57%, reflecting their increased popularity and reliability for scalable campaigns.
• Celebrity influencers led the pack with a +20% rise in impressions, from 500,000 in 2023 to 600,000 in 2024, reinforcing their scalability for large-scale campaigns.

Shifting Brand Focus Toward Smaller Tiers

The sharp increase in rates and engagement for Nano and Micro influencers reflects a shift in brand priorities:

• Smaller influencers are increasingly preferred for their authentic connections with audiences, which translate into higher conversion rates.
• By combining paid social with these smaller tiers, brands can amplify their content through paid social, achieving limitless scalability while preserving authenticity.

Insights Behind the Numbers

The 2024 data was collected directly through The Cirqle’s platform, where 502.000 creators (up from the 350.000 creators in 2023) input their rates for each campaign. This first-party data ensures real-time accuracy and deep insights across all tiers, including Rate per Post, CPMs, engagement rates, reach, and views.

Nano and Micro influencers dominate this year’s narrative, reflecting a growing emphasis on localized and authentic connections. Nano influencers, with their engagement rates of 14.2%, deliver unmatched ROI for brands looking to drive conversions. Simultaneously, Macro and Celebrity influencers deliver cost-efficient reach, with CPMs dropping to $93 and $114, respectively. A well-rounded mix—favoring 80% Micro influencers and 20% Macro influencers—forms the foundation for high-performing campaigns.

Why Nano and Micro Influencers Are Gaining Value

1. High Engagement: Nano influencers consistently outperform larger tiers, with engagement rates averaging 14.2%.
2. Personal Connections: Smaller influencers build trust with their audiences, leading to higher conversion rates.
3. Demand Surge: Brands are allocating more budget to multiple Nano and Micro influencers, reducing dependence on single high-cost creators.
4. Paid Social Amplification: Paid social ensures Nano and Micro influencers reach unlimited audiences, turning small investments into scalable, high-performing campaigns.

Cost-Effectiveness Across Tiers

While smaller influencers shine for engagement and conversions, Macro and Celebrity influencers have become more efficient for awareness campaigns:

• Lower CPMs make these tiers attractive for broad-scale visibility and organic awareness initiatives.
• Improved engagement rates across larger tiers ensure these influencers are no longer just reach generators but also meaningful audience engagers.

Recommendations for Brands on Instagram in 2024

‍To drive sales on Instagram in 2024, brands must navigate a dynamic influencer landscape with strategies rooted in data and tailored to tier-specific influencer strengths. Nano and Micro influencers should be at the heart of sales-focused campaigns. With engagement rates of 13.9% and 11.7%, these tiers excel in building trust and driving authentic interactions that then turn into sales-engines when paid social comes into play. Brands may want to consider allocating budgets to collaborate with multiple smaller influencers rather than relying on a single high-cost creator. The true key to drive sales with influencer marketing lies in a clever balance of the following:

Creators + Creatives + LaL Audiences = Success
10             +        20        +           20               = Success

For campaigns requiring broader reach, Mid-tier and Macro influencers may strike a balance between cost and scalability. With CPMs of $87 and $93, these tiers deliver substantial reach—up to 120,000 followers on average—while maintaining affordability. Celebrity influencers, despite a 26% drop in rates, remain a powerful tool for brand awareness, especially with their engagement rates surging by 2,700% in 2024.

What the research has revealed is a pivotal truth: Nano + Micro creators, when backed by paid social amplification, can transform a campaign from an engagement-driven initiative into a true revenue-generating engine. With their sweet spot of affordability and influence, Micro creators are increasingly being chosen by brands not just for their audience authenticity, but for their ability to move the needle in measurable ways—be it driving sales, increasing app installs, or boosting revenue. With engagement rates averaging 11.7% and scalable reach of 15,000, Micro influencers are positioned perfectly to resonate with highly targeted audiences. But their efforts require paid social backing to combat the decreasing avg. reach rates across Instagram.

This shift aligns with a broader trend identified in the research: brands are contracting smaller creators in greater numbers, prioritizing brand fit over sheer follower count, since the latter has far less impact and organic reach rates are poor anyways. The Cirqle is uniquely equipped to support this movement. By leveraging first-party data, The Cirqle ensures brands can identify Micro creators who align deeply with their values, audience demographics, and objectives. Through advanced paid social integrations with platforms like Meta and TikTok Ads, brands can amplify Micro influencer content to exponentially expand reach and drive true business outcomes. In fact, the same business outcomes as the ones your Ads Manager would offer.

‍The Cirqle’s platform doesn’t just amplify influencer content on paid social—it measures, scales and auto-optimizes. With RoAS forecasts, revenue attribution tools, and real-time performance tracking, The Cirqle enables brands to quantify the impact of influencer campaigns in terms of sales and revenue. This ability to both scale and measure the impact of Micro creators positions The Cirqle as a leader in enabling businesses to achieve tangible results from influencer marketing, proving that the right mix of creators and paid social can turn marketing spend into measurable growth.

Brands can maximize ROI by leveraging data-driven tools like The Cirqle’s platform. Our AI and Predictive analytics enable you to identify creators with the highest potential RoAS based on historical performance, engagement trends, and cost metrics. By tracking key metrics like Rate per Post and CPM in real-time, you can refine your campaigns to achieve measurable success. Instagram in 2024 offers a wealth of opportunities—seize them with a strategic, tier-specific approach.

Creating a win-win scenario for both brands and influencers involves more than just analyzing metrics. It's about building lasting relationship centered around always-on influencer programs. By engaging with high-performing influencers based on data from initial posts, you not only ensure that the partnership is mutually beneficial but also maximize the longevity and effectiveness of your campaigns.

It's crucial to look beyond the surface-level numbers. A high follower count doesn't always equate to high engagement or any propensity to drive sales. Instead, focus on the influencer's ability to drive desired actions within your target audience, and the ability to push creative that is truly a brand fit.

1. Prioritize Nano and Micro Influencers for Engagement-Driven Campaigns

Nano and Micro influencers have demonstrated exceptional growth, with engagement rates soaring by +184% for Nano influencers and +95% for Micro influencers. These tiers are redefining the influencer landscape by combining authenticity with cost-effectiveness. Here's how to capitalize:

• Focus on Niche Campaigns: With CPMs falling to $28 for Nano influencers, these creators are highly efficient for campaigns that require deep engagement, such as product launches or localized promotions. Micro influencers, with their improved reach (+28.57%), can drive targeted results for mid-scale campaigns.
• Test Multiple Influencers: Collaborating with several Nano and Micro influencers diversifies your strategy, allowing you to tap into varied audience segments and measure performance across multiple creators.
• Amplify with Paid Social: Nano influencers now have an average Rate per Post of $504, making them ideal for amplification through paid social. By extending their reach, brands can scale authentic content to broader audiences while maintaining high engagement.

2. Use Mid-tier Influencers for Scalable Engagement

Mid-tier influencers strike a balance between affordability and reach, with engagement rates climbing to 9.4% (+135%) and CPMs reducing by -24.35%. Recommendations include:

• Scale Mid-sized Campaigns: At an average Rate per Post of $2,100, Mid-tier influencers are a cost-effective option for reaching audiences in aspirational product categories.
• Optimize Costs: With Reach increasing to 50,000 impressions on average, Mid-tier influencers offer strong visibility for campaigns without the high costs of Macro or Celebrity tiers.

3. Macro and Celebrity Influencers for Efficient Reach

Macro and Celebrity influencers have become more cost-efficient while delivering exceptional improvements in engagement rates, with Celebrities seeing an unprecedented +2,700% increase in engagement.

• Leverage Cost Efficiency: With CPM reductions of -33.57% for Macro influencers ($93) and -62% for Celebrities ($114), these tiers are now accessible options for brands aiming to build widespread awareness.
• Focus on Engagement Over Volume: Celebrities, traditionally valued for their reach, are now excelling in engagement. Use them for campaigns requiring both mass visibility and audience interaction.

4. Track and Optimize with Data-Driven Tools

Maximizing ROI requires robust data and analytics. The Cirqle’s platform provides brands with the tools to identify, track, and optimize influencer campaigns:

• RoAS Forecasting: Predict the revenue impact of influencers using historical performance and cost metrics to make data-driven decisions.
• Campaign Measurement: Use real-time data to evaluate metrics like impressions, CPM, engagement rate, and conversions, ensuring campaigns deliver measurable business results.
• Content Amplification: Extend the life and reach of high-performing influencer content with paid social amplification, scaling audience exposure without sacrificing authenticity.

5. Diversify Campaign Strategies Across Tiers

The data reveals that each influencer tier offers unique strengths. Brands can maximize ROI by leveraging a balanced mix of tiers:

• Nano and Micro Influencers: These tiers are ideal for driving engagement, trust, and localized impact, offering unmatched authenticity and affordability.
• Mid-tier Influencers: Perfect for scaling campaigns with aspirational appeal, balancing visibility and cost-effectiveness.
• Macro and Celebrity Influencers: Best suited for large-scale awareness campaigns, these tiers now combine cost efficiency with significant engagement improvements.

Conclusion

The 2024 Instagram trends highlight a clear shift toward data-backed, strategic influencer collaborations. Nano and Micro influencers are redefining authenticity and engagement, while Mid-tier, Macro, and Celebrity influencers provide scalable visibility and cost efficiencies. By integrating these insights into your strategy, brands can create a diverse influencer portfolio that drives measurable results.

With The Cirqle’s first-party data, predictive analytics, and paid social capabilities, brands can unlock Instagram’s full potential, transforming influencer marketing into a revenue-generating powerhouse.

Conclusion: The Power of Instagram Influencers in 2024

Instagram remains a cornerstone of influencer marketing in 2024, offering brands a dynamic ecosystem to achieve their goals. Nano and Micro influencers stand out for their unmatched engagement, with rates soaring to 13.9% and 11.7%, respectively. These smaller tiers continue to redefine authenticity, making them the preferred choice for brands seeking meaningful audience connections.

At the same time, Mid-tier and Macro influencers provide scalability with cost-effective CPMs of $87 and $93, enabling brands to balance reach and ROI. Even Celebrity influencers have evolved, with rates dropping by 26% and engagement skyrocketing to 5.6%, proving their worth in awareness campaigns.

However, true business success requires more than just organic reach. This is where The Cirqle stands out. By combining first-party data with advanced paid social capabilities, The Cirqle empowers brands to scale Nano and Micro influencers beyond their organic limits. Through features like seamless integrations with Meta and TikTok Ads, brands can amplify creator content to broader audiences, ensuring maximum visibility and engagement while driving tangible results such as increased sales and revenue.

For brands aiming to scale efficiently, Mid-tier and Macro influencers offer the perfect balance between cost and reach. With CPMs of $87 and $93, these tiers deliver significant visibility for larger campaigns. Even Celebrity influencers, with their engagement rates skyrocketing by 2,700%, have proven their worth in delivering brand awareness at a competitive cost.

The Cirqle’s data-driven approach ensures brands can optimize every campaign, leveraging RoAS forecasts, predictive analytics, and performance tracking to identify creators with proven revenue-driving potential. Whether your goal is niche engagement or scalable visibility, Instagram in 2024 offers the tools to achieve it—especially when paired with The Cirqle’s powerful paid social capabilities.

By leveraging the insights from The Cirqle’s platform, brands can truly make data-driven decisions that maximize revenue and sales.